Alternative to Ultra-Short Duration Funds

Portfolio
14th AugReview
2020
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Emkay Global Financial Services Limited

DEBT MARKET PROPOSITION

▪ Some Reality Check

Contents Bank FDs
Ultrashort Duration Funds
Corporate FDs

▪ Suggested Papers

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Emkay Global Financial Services Limited

Bank FDs & Returns

Banks FD Interest Rates Tenure

SBI 3.30% – 6.50% 7 days to 10 years
Canara Bank 4.00% – 6.25% 7 days to 10 years
HDFC 3.00% – 6.25% 7 days to 10 years
ICICI Bank 3.25% – 6.25% 7 days to 10 years
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Axis Bank 3.50% – 6.75% 7 days to 10 years
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IDFC First Bank 4.00% – 7.75% 7 days to 10 years
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 Ultra Short Duration Mutual Funds & Returns

Modified Avg. Simple Annualised Returns [%]

Scheme Name AUM YTM Duration Maturity
1 Day 3 Day 1 Week 2 Week 1 Month 2 Months 3 Months 6 Months YTD
(days) (days)
Aditya Birla SL Savings Fund(G)-Direct Plan 14,006 4.64 171.55 NA 13.76 9.19 6.73 6.35 5.52 9.29 10.21 8.08 8.11
Aditya Birla SL Savings Fund-Reg(G) 14,006 4.64 171.55 NA 13.61 9.05 6.59 6.21 5.37 9.15 10.07 7.94 7.97
Franklin India Ultra Short Bond Fund-Super
9,860 9.81 127.75 149.65 11.63 8.44 9.04 9.47 9.74 11.05 11.19 8.83 1.92
Inst(G)-Direct Plan
HDFC Ultra Short Term Fund(G)-Direct Plan 10,760 4.57 146.00 212.00 8.17 6.18 4.90 5.42 4.84 7.58 8.73 8.06 7.80
HDFC Ultra Short Term Fund-Reg(G) 10,760 4.57 146.00 212.00 7.90 5.80 4.56 5.13 4.54 7.27 8.42 7.73 7.47
ICICI Pru Ultra Short Term Fund Fund(G) 6,281 5.94 120.45 156.95 9.24 8.55 7.16 6.59 5.31 9.39 9.73 6.81 7.16
ICICI Pru Ultra Short Term Fund Fund(G)-Direct
6,281 5.94 120.45 156.95 10.07 9.25 7.81 7.26 5.96 10.05 10.40 7.47 7.82
Plan
IDFC Ultra Short Term Fund(G)-Direct Plan 5,613 3.64 124.00 130.00 4.05 4.16 3.70 3.70 3.34 5.17 6.62 6.94 6.94
IDFC Ultra Short Term Fund-Reg(G) 5,613 3.64 124.00 130.00 4.07 3.96 3.58 3.56 3.19 5.01 6.46 6.79 6.78
Kotak Savings Fund(G) 9,966 4.04 175.20 182.50 7.86 4.98 4.10 4.58 3.49 6.43 7.41 6.93 6.91
Kotak Savings Fund(G)-Direct Plan 9,966 4.04 Portfolio
175.20 182.50 Review
8.20 5.40 4.52 5.02 3.93 6.87 7.86 7.40 7.38
SBI Magnum Ultra Short Duration Fund(G)-Direct
Plan
12,476 4.17 182.50 Genus
200.75 5.88 4.71 4.06 4.30 4.00 6.23 7.19 7.08 7.08

SBI Magnum Ultra Short Duration Fund-Reg(G) 12,476 4.17 182.50 200.75 5.72 4.55 3.90 4.13 3.84 6.07 7.03 6.91 6.91
Average 4.31 132.29 146.51 8.15 5.22 4.37 4.44 3.22 6.22 6.78 6.28 6.22
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Corporate FDs & Returns

Fixed Deposit
Name of Corporate Interest Rate Tenure
(in %)
Mahindra Finance FD 6.80% – 7.30% 15 to 40 months
LIC Housing Finance
FD 6.00% – 6.10% 1 – 5 years
Bajaj Finserv FD 6.90% – 7.10% 12 to 60 months
HDFC Ltd. FD 6.35% – 6.45% 12 to 84 months
Shriram Transport
Finance FD Portfolio – 8.18% 12 – 60 months
7.34% Review
ICICI Home Finance Genus 12 to 120
FD 6.50% – 6.85% months
Emkay Global Financial Services Limited
 Opportunities in Bonds

Instrument Coupon Coupon Maturity YTM/YTC Current Modified Expected Expected Expected
Payable /Call Yield Duration Return for Return for Return for
25bps cut 25bps cut NO cut

8.25% BOB Perpetual 8.25% Annual 17-Jul-25 8.00% 8.17% 3.91 8.98% 9.95% 8.00%
8.48% UPPCL 2025 8.48% Quarterly 14-Mar-25 8.05% 8.27% 3.73 8.98% 9.91% 8.05%
10.15% UPPCL 2025 10.15% Quarterly 20-Jan-25 10.25% 10.06% 3.51 11.13% 12.00% 10.25%

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Disclaimers
• 1. The information provided is not intended to be used by investors as the sole basis for investment decisions, who must make their own investment decisions, based on their own
investment objectives, financial positions and needs of specific investor. The information provided may not be taken in substitution for the exercise of independent judgment by any
investor. The investor should independently evaluate the investment risks and make independent judgment with regard suitability, profitability, and fitness of any product or service
offered herein above.
• 2. Some of the products described hereinabove may be developed and offered by third parties ('third party products'), which Emkay Global Financial Services Limited or its Associate
Companies may be making available to you. Emkay Global Financial Services Limited or its Associate Companies does not endorse or guarantee these third-party products in any
manner and will not be liable for their performance or otherwise. The products described in this document may not be protected against sovereign risk including risks arising from any
changes in applicable Indian or other relevant laws, represent speculative investments and may involve a high degree of risk. Investors' capital may not be guaranteed in any respect and
they could lose all or substantial portion of their investment.
• 3. Please familiarize yourself with all the terms and conditions pertaining to the specific products and services prior to availing of it. Emkay Global Financial Services Limited or its
Associate Companies is not acting as your adviser or in a fiduciary capacity in respect of the products and services referred to in this document and accepts no liability nor responsibility
whatsoever with respect to the use of the information provided hereinabove.
• 4. Investors to exercise their own independent judgment in using any of the information and documents – Term sheet, Presentation and Information Memorandum provided by Emkay
Global Financial Services Limited Ltd. or its Associate Companies and conduct separate research into the suitability of the product for a particular financial situation, circumstances,
attitudes, motivations and preferences. Investors should consult their financial advisers for the suitability of the product and advise on investments.
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the performance of returns on your investments.
• 6. Please note that Investments are subject to multiple risk factor(s). Please read the Information memorandum for full understanding and detail carefully before investing. The investor
should independently evaluate the investment risks before making the investment decision.
• 7. Emkay Global Financial Services Limited or its Associate Companies as part of their services might be distributing their products to clients or prospective investors. Emkay Global
Financial Services Limited or its associates may or may not hold the above referred securities being distributed as part of their own investments.
• 8. Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future
performance. Information, opinions and estimates contained in this report reflect a judgment of its original date of publication by EMKAY GLOBAL FINANCIAL SERVICES LIMITED or its
Associate Companies and are subject to change without notice. The price, value of and income from any of the securities or financial instruments mentioned in this report can fall as well
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• 9. The Report is purely for information purposes and does not construe to be investment recommendation/advice or an offer or solicitation of an offer to buy/sell any securities.
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